Chandni Machines has scheduled an Extra-Ordinary General Meeting (EGM) on July 23, 2026, at 3:00 p.m. IST via video conference. Shareholders will vote on the alteration of the Object Clause of the Memorandum of Association (MOA) to facilitate expansion into manufacturing, marine, and chemical trading sectors. The meeting will also seek approval for the variation in the utilisation of unutilised proceeds amounting to ₹29.09 crore raised through a preferential issue.

The Board of Directors approved the insertion of sub-clauses 5, 6, 7, and 8 under the Main Objects Clause on June 18 and June 24, 2026. These alterations aim to diversify business activities amid challenges in the existing second-hand machinery trade due to geopolitical uncertainties and supply chain disruptions.

Strategic Expansion

The proposed alterations to the MOA outline a significant diversification of business activities. The approved objects include:

• Manufacturing: Producing aluminium, zinc, metal ingots, and aerospace engineering components.
• Infrastructure: Establishing manufacturing facilities in Gujarat or other states in India.
• Marine and Shipbuilding: Undertaking repair, maintenance, and engineering services for ships, including naval and defence shipbuilding activities such as constructing warships and patrol boats.
• Chemicals Trading: Dealing in industrial chemicals, petroleum products, lubricants, and related derivatives.

Reallocation of Preferential Issue Proceeds

Shareholders will also consider a special resolution to vary the objects of the preferential allotment made on January 30, 2026. The company raised ₹41.01 crore through the issuance of 38,10,900 equity shares and 40,00,000 convertible warrants at ₹52.50 per share. The issue was undersubscribed compared to the initially approved target of ₹42.97 crore.

The Board proposes to reallocate the unutilised proceeds of ₹29.09 crore. The allocation for 'Investment in subsidiaries and strategic acquisitions' amounting to ₹5.00 crore has been withdrawn. Funds will be redirected towards enhanced working capital requirements and capital expenditure for the new business lines proposed under the MOA alteration.

The Audit Committee reviewed the proposal on June 24, 2026, and recommended the changes as being in the best interest of the company. The facility for remote e-voting and e-voting during the EGM will be provided by Purva Sharegistry (India) Pvt. Ltd.

Chandni Machines Limited will not submit its audited financial results for the year ended March 31, 2026, within the timeline stipulated by Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The delay is attributed to the books of accounts being under finalization, which prevented the completion of the financial results on time. The company is taking necessary steps to submit the results at the earliest possible date.

In a letter to The BSE Limited dated May 30, 2026, the company stated that the results could not be completed in time. The trading window for dealing in the equity shares of the company has been closed since April 01, 2026, and will remain closed until 48 hours after the declaration of the audited financial results. This measure is in accordance with the company's Policy for Prevention of Insider Trading, formulated under the SEBI (Prohibition of Insider Trading) Regulations, 2015.

The company affirmed its commitment to maintaining corporate governance and regulatory compliance standards. It assured stakeholders that the financial results would be submitted immediately upon the completion of pending processes. The intimation was signed by Jayesh R. Mehta, Managing Director of Chandni Machines .